The Nigerian stock market sustained positive run on Monday for 11th consecutive sessions, as equities market capitalisation value appreciated by N297 billion to commence trading for this week.
The All-Share Index (ASI) increased by 568.72 absolute points, representing a growth of 2.11 per cent to close at 27,554.49 points. Similarly, the overall market capitalisation size gained N297 billion to close at N14.402 trillion.
The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Airtel Africa, SEPLAT PetroleumDevelopment Company (SEPLAT), MTN Nigeria Communications (MTNN), Presco and Guinness Nigeria.
The equities market breadth closed positive as 36 stocks posted gains while 10 stocks posted declines.
GlaxoSmithKline Consumer Nigeria and Red Star Express recorded the highest price gain of 10 per cent each, to close at N5.50 and N3.30, respectively, while NPF Microfinance Bank followed with a gain 9.60 per cent to close at N1.37, per share.
Africa Prudential went up by 9.47 per cent to close at N5.20, while Neimeth International Pharmaceuticals and Wapic Insurance appreciated by 8.33 per cent each, to close at N1.95 and 39 kobo, respectively, per share. On the other hand, Tripple GEE and Company led the losers’ chart by 10 per cent, to close at 36 kobo, per share. Oando followed with a decline of 8.73 per cent to close at N2.09, while UACN Property Development Company shed 6.52 per cent to close at 86 kobo, per share. Chams lost 4.76 per cent to close at 20 kobo, while Union Bank of Nigeria (UBN) depreciated by two per cent to close at N4.90, per share.
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Also, the total volume traded increased by 31.35 per cent to 603.946 million shares, worth N7.425 billion, and traded in 5,984 deals. Transactions in the shares of Zenith Bank topped the activity chart with 204.685 million shares valued at N3.833 billion. Sterling Bank followed with 55.23 million shares worth N71.28 million, while United Bank for Africa traded 51.3 million shares valued at N328.849 million.
Guaranty Trust Bank traded 36.311 million shares valued at N1.073 billion, while Transnational Corporation of Nigeria (Transcorp) transacted 35.108 million shares worth N20.972 million.
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